Energetica India Magazine May-June 2021

is supported by our electrical products manufacturing division which is located at the region’s largest private industrial city: Alfanar Industrial City in Saudi Ara - bia. Through strategic acquisitions, we have, further, strengthened our products portfolio with facilities in UK, Italy, Turkey, Spain, Germany, and India that develop and manufacture innovative products ac - cording to international quality and safety standards. This multifaceted offering is the secret behind many of our major achievements, such as the Smart Meter Project in Saudi Arabia. In 2021, Alfanar contributed to the achievement of the largest digital trans - formation endeavor outside of China and the Kingdom’s first step towards a smart future. The combined effort of separate divisions and arms resulted in a delivery that exceeded quality expectations three - fold. Delivered on time despite the pan - demic, it is one of many examples of our unwavering commitment to excellence. When it comes to renewable energy proj - ects, we have a 1.7GWportfolio of project development and EPC across Saudi Ara - bia, UK, India, Spain, andEgypt andclose to 3.5GW in greenfield development. Our goal is to expand and double our portfolio by 2025 through harnessing our diverse experience in dynamic new projects. Alfanar has recently commissioned its first wind energy project in India. How has been your experience so far? Do you face any challenges? energetica INDIA- May-June_2021 15 INTERVIEW “We have secured financial closure for our second 300 MW wind project and is expected to be complete by April 2022.” J amal W adi : Every major project comes with its own unique set of challenges, but our policy is to always ‘adapt and achieve’ irrespective of this. I am very proud of our team for bringing the vision of the compa - ny to life and honoring our growing inter - national reputation for excellence. The 300 MW wind project in Bhuj (SECI Tranche-III), was successfully commis - sioned two months ahead of the sched - uled commercial operation date (SCOD) even amid a global pandemic. The health and safety of our manpower and contractors are of paramount impor - tance, and there were times during the COVID-19 pandemic that we had to halt construction for a long period of time. Here, I would personally like to express appreciation for the invaluable support of the local and central Indian govern - ment and nodal agencies like SECI, PG - CIL, and MNRE, who have significantly eased the development and operation of the project. We went through a learning curve during this project, and thanks to the dedicated and integrated efforts of all its stakeholders, it has become one of Alfanar’s proudest achievements. We plan to continue proving our standing as a new but formidable player in the In - dian market by delivering a quality of life through our involvement in projects like SECI Tranche-III, which integrate sus - tainability with economic development, create jobs, and enable decarbonization in line with India’s commitment at the Unit - ed Nations Climate Change Conference in Paris. Which renewable energy projects are Alfanar working on in India, currently, and what are its future plans for the In- dianmarket? J amal W adi : We have secured financial closure for our second 300 MW wind project under SECI Tranche (V), which began construction in March 2021 and is expected to be complete by April 2022. As a new key player in India’s renewable energy market, we currently have over 3 GW greenfield development in the pipe - line and under the process of approval by the state and central nodal agencies. Our strategy is to build a portfolio that is a mix of solar, wind, and hybrid projects planned across India and contributing holistically to the renewable energy mis- sion and target of the country. We also envisage entering the smart grid, T&D, and e-mobility space in India as these are niche markets with synergetic opportuni - ties. To facilitate this, we plan to leverage our successful global experiences of rolling out mega projects which includes some of the largest smart meter and T&D projects in the Middle East. Are you planning to sell some of your wind assets portfolio in India, as re- ported in the media? Kindly shed some light on it. J amal W adi : As a part of our IPP business and our group strategy, we occasionally review all options to raise external capi- tal, including strategic investments. But, there is absolutely no plan to exit from the business. India’s renewable energy mar - ket is the fourth largest market in the world with respect to global cumulative wind installations and the second-largest wind manufacturing hub. Our strategy is to both maintain our existing position in the market and emerge as a prominent and sustainable player that contributes to the nation’s growth. What is your outlook on the wind ener- gymarket for 2021? J amal W adi : The energy transition is ac - celerating across the globe as nations capitalize on their dual priorities of mit - igating climate change and promoting sustainable development. The current wind energy market outlook is aligned with the long-term vision and renewable energy targets of India, which plans to in - crease renewable energy capacity to 450 GW by 2030. Today, wind energy is also one of the most price-competitive power sources on the Indian grid (on par with so - lar), with prices below conventional fossil fuels. All of this is an additional incentive for us to continue collaborating with the public sector to further our contributions to the Indian renewable energy field.